French automaker Renault said Friday that it had sacked its Chief Executive Officer Thierry Bollore, less than one year after he took up the position following the arrest of previous boss Carlos Ghosn on charges of financial misconduct.
The company gave no reason for the sudden move. "The board of directors decided to end the mandate of Thierry Bollore as Chief Executive Officer of Renault SA and President of Renault SAS with immediate effect," it said in a statement.
"The board of directors also decided to appoint with immediate effect Clotilde Delbos as Chief Executive Officer of Renault SA for an interim period, until a process is completed to appoint a new Chief Executive Officer." She is a member of the Groupe Renault Executive Committee.
The statement added that the board of directors gave a favourable opinion on the appointment of Olivier Murguet and Jose Vincente de los Mozos as Deputy Managing Directors to assist Clotilde Delbos in her duties.
"In addition, Jean-Dominique Senard will assume the Presidency of Renault SAS during this interim period."
Bollore's departure was speculated earlier this week after French daily Le Figaro reported that he had a difficult relationship with board Chairman Jean-Dominique Senard.
More From This Section
Bollore was named deputy CEO in February 2018 by Ghosn, who was arrested during November 2018 in Tokyo on charges of under-reporting his salary as head of Renault's alliance partner Nissan.
The move plunged both companies into turmoil, leading to deep divisions in their management structures.
Disclaimer: No Business Standard Journalist was involved in creation of this content
